NAB FX Strategy Research discusses USD/JPY outlook, arguing that while Abe’s election win has opened the door for USD/JPY to trade comfortably above 113, a sustainable move above 114 still requires 10y UST yields moving into a higher trading range with a BoJ firmly committed to its Yield Curve Control (YCC). "The market is currently looking for a weekly close above 2.42% in 10y UST yields for assurance that a move towards 2.60% is possible. This week will be important in this regard amid a busy calendar which includes Trump’s Fed chair nomination, US ISM data, the FOMC meeting and payrolls. Ultimately we see 10y UST ... (full story)